HBAR / BTC - HS may lead to a re-test @ top of channel
HBAR / BTC is repeating the same pattern as it did prior to moving up above 400-800+ sats area. Just like before, we've broken out of a channel (bull flag), and should be moving up but have been ranging between the red and green boxes. At the moment, however, we may be forming a head and shoulders pattern that could lead to a break down below our green box towards the lower green box at the top of our old channel.
Channel was drawn on daily chart, red diagonal line above it is to denote 4H highs of channel pointing in the same parallel direction. Chart above is 4H chart.
Last time, we did the exact same thing - we broke out of a channel (bull flag), and then began ranging, eventually dropping below the range and re-testing the top of the channel before moving back up into our range and eventually breaking out forming a new high.
I believe there's a good chance we may do this again. See chart for visual description of the above, see repeating pattern ideas linked below under Related Ideas.
NOTES about Strategy:
This post is presently listed as Short, but for short term only.
Long-term I am Long on HBAR, and if you are waiting for an HBAR long opportunity it is probably not the best idea to have a short strategy against it, because when it finally does move up, it may do so rather violently.
Daily Chart:
Original Repeating Pattern Chart:
Channel was drawn on daily chart, red diagonal line above it is to denote 4H highs of channel pointing in the same parallel direction. Chart above is 4H chart.
Last time, we did the exact same thing - we broke out of a channel (bull flag), and then began ranging, eventually dropping below the range and re-testing the top of the channel before moving back up into our range and eventually breaking out forming a new high.
I believe there's a good chance we may do this again. See chart for visual description of the above, see repeating pattern ideas linked below under Related Ideas.
NOTES about Strategy:
This post is presently listed as Short, but for short term only.
Long-term I am Long on HBAR, and if you are waiting for an HBAR long opportunity it is probably not the best idea to have a short strategy against it, because when it finally does move up, it may do so rather violently.
Daily Chart:
Original Repeating Pattern Chart:
取消訂單:
Update - super strong denial on HS / attempt at breaking below green box, cancelling this idea, for now:
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取消訂單:
Cancelling this, updated w/ a new chart posted here:
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